By Kim Khan
Investing.com – Western Union (NYSE:WU) plunged Wednesday following disappointing quarterly results.
Shares fell 8% in afternoon trading.
Western Union reported a profit of 38 cents per share, excluding items, and revenue of $1.31 billion after the bell yesterday.
Analysts were expecting a profit of 43 cents per share on revenue $1.32 billion, according to forecasts compiled by Investing.com.
Guidance for full-year 2020 profit of $1.95 to $2.05 per share was at or above the consensus estimate of $1.95 a share, but revenue guidance of $1.31 billion was just below the forecast of $1.33 billion.
Of the 19 analysts covering the company, there are 7 sell ratings, 11 neutral ratings and one buy rating, according to Investing.com.
The consensus price target is about $25.